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Romney Campaign Press Release - Obama Promises Four More Years Like The Last Four Years

October 27, 2012

"The Obama campaign has conceded what millions of Americans already knew – another term for President Obama would mean four more years like the last four years. President Obama's second-term agenda will result in trillions in new debt, fewer jobs, and tax hikes on small businesses and middle-class families. As president, Mitt Romney will take our nation in a different direction by delivering a real recovery, with 12 million new jobs, higher take-home pay, and lower taxes for the middle class." – Andrea Saul, Romney Campaign Spokesperson

Yesterday, The Obama Campaign Promised The President's Re-Election Would Mean Four More Years Like The Last Four Years:

The Obama Campaign: "If This Is What The President Can Do In 4 Years, Imagine What He Can Do In Twice The Time" (Barack Obama Twitter Feed, 10/27/12)

What Has The President Accomplished Over The Last Four Years? Millions Struggling For Work, Higher Taxes, And Record Debt And Poverty:

Under President Obama, The National Debt Has Reached $16.2 Trillion – An Increase Of $5.5 Trillion. (Department Of The Treasury, Accessed 9/11/12)

Every American's Share Of The National Debt Currently Stands At Over $51,000 – An Increase Of Over $16,000 Under President Obama. (Department Of The Treasury, Accessed 9/11/12; U.S. Census Bureau, Accessed 9/11/12)

More Than Twenty-Three Million Americans Are Unemployed, Underemployed, Or Have Stopped Looking For Work. (U.S. Bureau Of Labor Statistics, 10/10/12)

Since President Obama Took Office, The Nation Has Lost 610,000 Manufacturing Jobs. (Bureau Of Labor Statistics, Accessed 10/10/12)

In 2011, Poverty "Remained Stuck At Record Levels" With Over 46 Million Americans Living In Poverty. "The ranks of America's poor remained stuck at record levels, although dwindling unemployment benefits and modest job gains helped stave off what experts had predicted would be the fourth rise in a row in the poverty rate. ... By total numbers, roughly 46.2 million people remained below the poverty line, unchanged from 2010. That figure was the highest in more than half a century when records were kept. The 15 percent poverty rate was basically unchanged from 1993 and was the highest since 1983." ("U.S. Poverty: Census Finds 46.2 Million Impoverished As Median Income Drops," The Associated Press, 9/12/12)

Since President Obama Took Office, Median Household Incomes Have Declined By Over $4,000. ("Household Income Trends Series: September 2012," Sentier Research, 10/24/12)

Since President Obama Took Office, The Number Of Americans On Food Stamps Has Increased From Nearly 32 Million To Nearly 47 Million. (U.S. Department Of Agriculture Website, Accessed 10/27/12)

President Obama Has Passed At Least 21 Tax Hikes As A Part Of Obamacare. (U.S. House Committee On Ways & Means, 7/25/12)

And What Would The President Accomplish Over The Next Four Years? A $20 Trillion Debt, More Job-Destroying Tax Hikes, And Devastating Medicare Cuts:

President Obama's Small-Business Tax Hikes Will Jeopardize 710,000 Jobs. "Researchers determined the plan would actually subject 2.1 million business owners to higher rates; specifically, those who pay pass-through taxes, like most partnerships, LLCs and S-Corporations. The result, less capital in the hands of business owners and diminished labor supply, would cost the United States an estimated $200 billion in economic output and 710,000 jobs." (J.D. Harrison, "Obama Plan To Lift Top Tax Rates Would Plague Millions Of Small Businesses, Study Warns," The Washington Post, 7/17/12)

Under President Obama's Policies, The National Debt Is Projected To Surpass $20 Trillion By The End Of 2016 – An Increase Of More Than $4 Trillion In New Debt. (Office of Management and Budget, 7/27/12)

American Enterprise Institute Has Calculated That The Annual Cost Of President Obama's Current And Looming Debt Burden Amounts To $4,000 Per Year In Higher Taxes On The Middle Class. "In a new paper, AEI's Matt Jensen looks at the real annual cost of servicing the debt for households at various levels of income — including a potentially higher tax burden. As the table below illustrates, a household making between $100,000 and $200,000 a year could find its tax liability higher by roughly $2,400 every year. Over ten years, that works out to $24,000. And when you add in the debt already accrued the past four years under President Obama (the second table), that's another $1,600 a year. So now we are now talking about $4,000 a year, $40,000 over ten years." (James Pethokoukis, "Study: Obama's Big Budget Deficits Could Mean A $4,000 A Year Middle-Class Tax Hike," American Enterprise Institute, 10/2/12)

According To The Nonpartisan Congressional Budget Office, Obamacare Will Cut $716 Billion From Medicare. (Congressional Budget Office, Letter To Speaker John Boehner, 7/24/12)

President Obama's Tax Hikes In Obamacare Will Hit Nearly 5 Million Middle-Class Americans. ("Payments Of Penalties For Being Uninsured Under The Affordable Care Act," Congressional Budget Office, 9/12)

Obamacare Could Cause As Many As 20 Million Americans To Lose Their Employer-Provided Coverage. "A Congressional Budget Office report issued this week says that 3 million to 5 million people could move from employer-based health care plans to government-based programs as the Affordable Care Act takes effect. And in the worst-case scenario, it could be as many as 20 million." (David Nather, "Health Care Reform: 4 Inconvenient Truths," Politico, 3/16/12)

President Obama Has Said The Most Important Policy He Could Address In A Second Term Is Climate Change. "Obama has an ambitious second-term agenda, which, at least in broad ways, his campaign is beginning to highlight. The President has said that the most important policy he could address in his second term is climate change, one of the few issues that he thinks could fundamentally improve the world decades from now." (Ryan Lizza, "The Second Term," The New Yorker, 6/18/12)

Candidate Obama, On His Cap-And-Trade Plan: "Under My Plan Of A Cap-And-Trade System, Electricity Rates Would Necessarily Skyrocket." OBAMA: "When I was asked earlier about the issue of coal, you know, under my plan of a cap and trade system, electricity rates would necessarily skyrocket. Even regardless of what I say about whether coal is good or bad. Because I'm capping greenhouse gases, coal power plants, you know, natural gas, you name it, whatever the plants were, whatever the industry was, uh, they would have to retrofit their operations. That will cost money. They will pass that money on to consumers." (Sen. Barack Obama, Interview With The San Francisco Chronicle's Editorial Board, 1/17/08)

Mitt Romney, Romney Campaign Press Release - Obama Promises Four More Years Like The Last Four Years Online by Gerhard Peters and John T. Woolley, The American Presidency Project

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